Title Searching and Other Research

When Is Escrow Considered Open?
by Sandy Gadow

When you give your deposit to the real estate agent and the signed sales agreement has been signed by both the buyer and the seller, the agent may then "open" escrow.

If there is no real estate agent involved in your transaction, the escrow may be opened by either the buyer or the seller. When you first make your offer to purchase a property, you typically give a good faith deposit check.

It doesn't hurt to double-check facts on any property you look at. Sometimes important information can be missing or incorrect.

I have been studying RE investment since 2001 and finally have begun to get off my butt and do something. The problem is that one thing still escapes me after studying Sheets, Graziosi, Whitney and many others and that is exactly where do I start in analyzing my market?

Don't know if this has been posted before but figured it would be pretty helpful to find county appraisals and stuff.

www.netronline.com

Click on Property Records on the left hand side and then click a state and a county then click on the website and boom your there!! lol I have found it to be very helpful!!

You can go to your local courthouse and do what is normally called an abstract. This has the liens and encumbrances on a particular property. The other, more effective way would be to work with a title company. I suggest an abstract first to get an idea of what I am looking at and then a title company before I close.

I've been researching the net and contacting Title Co's endlessly and yet to find a company that will either do assigns or double closings. Most of the responses I have received stated that they only work with the lenders. So, Does anyone know of a good Title Company in Massachusetts/Essex County.

Thanks

I found a really good article by James Kimmons on about.com regarding Clouded titles and their viability. Here it is.

A valid strategy in real estate investing involves the purchase of properties at a discount because they have title problems or a clouded title. The investor can hopefully purchase the property below value, correct the title problems and then sell it at a profit. These clouded title issues could involve:

Federal, state or local tax liens
Liens for work done on the property
Missing heirs with possible claims on the property

Can anyone map out how the dual closing works on a sandwich lease option? Does the deed go into escrown from the seller when I exercise? Then do I close with the tenant buyer and put the funds into escrow and pocket the difference before routing to the seller in exchange for the deed? Thanks guys.
Matt

Hey does anyone have any experience going about finding out whether title companies require "seasoning" or not? I am currently looking to utilize a sandwich lease option strategy in which I will eventually have a dual closing with the seller, myself and the tenant-buyer. I want to know if I can even pull this off in my state? Any advice would be great.
Matt

Ok, I know I have posted lots of stuff on being a bird dogger and how to find one, but I wanted to post this one on the worlds best bird doggers and YOU ALREADY HAVE THEM.

I am talking about kids, you know, those pesting little midgets that think you pocket is the new ATM machine.

My son and his friends are always out riding bikes and cover more neighborhoods in a weekend then I ever could in a month.